Private Equity Solutions

Mamma.com Inc. Increases Q2 Revenues 88% to $3.96 Million
Net Earnings in Q2 2004 of $108,387 vs. Net Loss of $442,924 in Q2 2003

Private Equity Fund Of Funds Montreal, Canada, August 11, 2004--Mamma.com Inc., (the "Company"), (NASDAQ: MAMA), reported its financial results for the second quarter ended June 30, 2004. Unless otherwise stated, all figures in this release are in US dollars. Mamma.com Inc.'s Q2 2004 net earnings of $108,387 ($0.01 per share) compared to a Q2 2003 net loss of $442,924 ($0.07 per share). Year to date net earnings of $1,492,065 ($0.16 per share - basic) compared to net loss of $549,699 ($0.09 per share) for the same period in 2003. The Company's revenue increased by 88% compared to Q2 of 2003. Revenue in the second quarter of 2004 of $3,957,428 compared to $2,109,998 for the same period in 2003. Year to date revenues at $8,169,908 were 110% above the $3,899,242 revenues for the same period in 2003. Results include consolidation of one month's revenues of $241,110 from the Digital Arrow acquisition concluded on June 10, 2004.
Mamma.com's operating cash flow for the quarter was $1,372,155 and net proceeds of the equity financing concluded on June 30, 2004 was $15,700,576. As a result, cash and cash equivalents increased to $27,214,693. The second quarter results include costs of approximately $200,000 for accounting and legal expenses related to preparing responses to the SEC's requests for information in connection with its ongoing informal investigation. In addition, Mamma.com incurred a significant non-cash expense in the quarter for expensing of warrants of $210,000 and non-cash expense for options of $36,000. Subsequent to the end of the second quarter, the Company renegotiated the agreement which included monthly issuance of warrants to eliminate this practice.

Curve Equity Exposed Fund Guy Faur, Mamma.com's President and CEO stated: "Our search, Ad network and e-mail revenue streams continued the strong growth trend with second quarter revenue improving 88% from the same period last year. We are especially pleased with the growth of our Ad network which realized a revenue increase of 62% from the same quarter last year. The completion of our acquisition of Digital Arrow further enhances our revenue stream and enables us to complete our one-stop-shop offer to on-line advertisers. Finally we completed a gross $16M financing this quarter which brings our cash position to more that $27M. This will enable us to execute on our aggressive acquisition strategy where we are looking to grow the Company by acquiring companies that will be highly synergetic with our existing offerings and that at the same time will significantly increase our revenues and be accretive to earnings."

is wholly owned by Dimensional Associates, Inc., the private equity arm of JDS Capital Management, Inc.

Equity Income Funds Unaudited financial statements for the second quarter of 2004 will shortly be available on Regulatory Filing (SEDAR), (EDGAR) and on our Web site www.mammainc.com

FF&P Private Equity provides its clients with the opportunity to invest in the equity of high growth, unquoted companies whose objective is to generate attractive returns through the subsequent listing, or trade sale, of these companies. FF&P Private Equity invests typically â5 million to â25 million of equity per transaction and places particular emphasis on backing commercial managers with a track record in successful execution of business plans and enhancing shareholder value. //www.ffandp. equity.

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(AXcess News) Fortis, Inc. ( FTS), based electric utility, reported earnings for the year of $137.1 million, compared to $90.9 million the previous year, a 50.8 percent increase. Earnings per share were $1.35, compared to $1.07 in 2004. The increase in earnings was primarily due to a full year of earnings contributions from FortisAlberta and FortisBC, which were acquired on May 31, 2004, higher wholesale energy prices in Ontario, higher equity income from Caribbean Utilities, and a $7. tax gain resulting from the settlement of contractual matters between FortisOntario and Ontario Power Generation Inc.

Private Investment In Public About Mamma.com Inc.
Mamma Media Solutions is focused on providing first-rate quality information retrieval on the Internet through its metasearch engine and is a leading provider of integrated marketing solutions to online advertisers. Mamma.com The Mother of All Search Engines is one of the most popular metasearch engines on the Internet, as it makes it easier and faster for people to find information by gathering the most relevant results from the best search engines on the Internet. Mamma Media Solutions is equally focused on being one of the leading providers of online marketing solutions to advertisers as its integrated offer includes keyword search listings, numerous sizes of graphic ad units and opt-in email marketing solutions. Mamma Media Solutions maintains a large publisher network on which it distributes search and graphic ad units for its advertisers. The Company also holds minority interests in analog integrated circuit products, and in the new media and telecommunications sectors.

Secure Corporation achieved accelerated, 11% quarter over quarter growth rate in its strategic Internet Service Provider (ISP) business during Q2. The overall Q2 revenue growth was also strong and increased by 18% compared to the same quarter last year, reaching a record level of ' 3.3m. EBIT was healthy at 16% of revenues, and ' .7m.

Equity Mutual Funds Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.

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